Goldman Says Buy; AI Coins Are Only Fit for a Relief Rally
Goldman upgraded CoreWeave to Buy with a price target of $106, and the stock rose about 6% premarket. It had fallen 43% since August 11. Nasdaq 100 futures were up about 1%, while Nvidia and Broadcom also rebounded premarket.
Crypto AI stocks have followed U.S. equities lower in this round of valuation compression. With plenty of turnover among holders near the highs, there’s room for a short-term oversold bounce. The 10-year Treasury yield is still at 5.08%, and risk appetite has only recovered in pockets. This looks more like a relief rally after a steep drop. Watch for selling pressure as prices approach the previous high-volume trading zone; if volume doesn’t follow through, prices may pull back and trade sideways. They’re still grinding near the top of the range, and AI coins won’t rally far until direction becomes clear.
Tesla and Meta report earnings this week, putting the returns on AI capital spending to the test. Sentiment could still shift. Are you placing bids to buy here, or waiting for prices to hold steady before entering?
$TAO $FET $BTC
Goldman upgraded CoreWeave to Buy with a price target of $106, and the stock rose about 6% premarket. It had fallen 43% since August 11. Nasdaq 100 futures were up about 1%, while Nvidia and Broadcom also rebounded premarket.
Crypto AI stocks have followed U.S. equities lower in this round of valuation compression. With plenty of turnover among holders near the highs, there’s room for a short-term oversold bounce. The 10-year Treasury yield is still at 5.08%, and risk appetite has only recovered in pockets. This looks more like a relief rally after a steep drop. Watch for selling pressure as prices approach the previous high-volume trading zone; if volume doesn’t follow through, prices may pull back and trade sideways. They’re still grinding near the top of the range, and AI coins won’t rally far until direction becomes clear.
Tesla and Meta report earnings this week, putting the returns on AI capital spending to the test. Sentiment could still shift. Are you placing bids to buy here, or waiting for prices to hold steady before entering?
$TAO $FET $BTC